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Jakarta Post

Bakrie Sumatera Plantations Q1 profit jumps 794 percent

  • Novia D. Rulistia

    The Jakarta Post

Jakarta   /   Fri, May 2 2008   /  01:33 pm

The country's fifth-largest plantation owner by value, PT Bakrie Sumatera Plantations, booked a 794 percent increase in its first quarter net profit helped by stronger prices of palm oil. President director Ambono Janurianto said Wednesday the firm's net profit had reached Rp 165 billion (around US$18 million) by the end of March this year, jumping from Rp 18.5 billion in the same period last year. He said sales in the first three months climbed to Rp 678 billion from Rp 264 billion and that its operational income reached Rp 222 billion from Rp 70 billion a year earlier. "This indicates that we're going to be very strong in growth this year, both in land ownership and net profit," he said. Ambono said the company expected to acquire 200,000 hectares of land by the end of 2011. Currently, the company has a total 106,000 hectares of planted land, up ...